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TPG Capital’s ATD Corp files for $100m IPO

17 Jun 2014

atd corpPrivate equity-backed tire distributor ATD Corp is looking to raise $100m via its upcoming IPO, according to a document filed with US securities regulators.

The company, which is backed by TPG Capital, did not say how many shares it was looking to offer and at what price.

In the first quarter of this year, ATD saw its losses more than double to $34.04m from $16.3m a year earlier despite a 28 per cent surge in revenues to $1.07bn. The company has more than 140 distribution centres in the US and Canada and has around 72,000 customers.

It was previously reported that ATD could be valued at over $2.5bn.

BofA Merrill Lynch, Deutsche Bank Securities, Goldman Sachs, Barclays, JP Morgan, UBS investment Bank, RBC Capital Markets and SunTrust Robinson Humphrey are acting as underwriters for the IPO.

Meanwhile, TPG is also looking to exit property listings group RentPath, which operates the Apartment Guide and websites.

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